Monitoring Competitor Pricing | Competitive Intelligence | Tracking Competitive Behavior
The web contains valuable information that can be used in feeding competitive intelligence. Almost all companies closely watch what their competitors are up to: whether they’re increasing/decreasing prices, are they running promotions? do they have disgruntled customers? and so on. Something as simple as looking at their feature requests can act as inputs for your own upgrades, to make sure you’re playing on their weakness.
If it’s so important to monitor such intelligence for staying competitive in the market, would it not make sense to have such a setup in place where you receive daily structured data feeds? Information that you can instantly act upon. Doing this in-house is also an alternative, however, that’s pretty complex and time-consuming. In fact, in some cases the number of direct competitors can be >10, which makes it unmanageable if you decide to do all this manually. For today’s digital consumer, finding out the competitor’s prices and going for the cheaper alternative just takes a few finger taps.
At PromptCloud, we help companies stay at the top in their markets by having updated pricing and product information on their sites at all times. We provide continuous data feeds to ensure that our clients have a dynamic pricing strategy.
The result? Increased market share, significant control over pricing trends, improved product features, better agility; all leading up to enhanced decision-making ability and ultimately to higher profits.
In case you’re wondering where to start, just drop in a mail at info@promptcloud.com (or through any of the contact forms on the site) to discuss your business case and start making smarter choices!